It looks like we are in Wave 3 of Wave 3) which is supposed to be a very strong wave.
As such this analysis has played out as expected so far and hence if it goes on to continue as such we shall soon see 13000+ levels on the chart as suggested in my previous posts.
I will update further as this market continues.
Idea: Gold long continuation if the price can hold above 1269.841. It is FOMC day, so this trade could be whipsawed by strong market moves.
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This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take...
The BTC as been considered "the new gold" as a safe haven.
The dormient GOLD and SILVER will raise thanks to BTC tank
Stocks of industries that work GOLD and SILVER like PAAS will benefit of this movement.
This stock is absolutely in oversold situation and a investment on it maybe a great idea in my opinion.
Looking at GOLD price we can see that it has been moving up for a long time. As a result of this appreciation market beat significant resistance at $1257, and re-tested it by rejecting it from the other side (as support).
It is worth noting that much more significant resistance is in area of 1305.00. Because last time GOLD in this area was during the election...
price now retest the EMA 90, 61.8 fibonacci level, previous structure and trendline.
hope this become a very strong support.
this trade has a good risk:ratio
Goodluck
I already posted this chart 2 days ago.(privately)
We may see a continuation of the recent bullish price movement given that the inverse S H S will be confirmed positively.
What do you think?
GOLD on the daily time frame gives a nice sell setup for the upcoming week. Its approaching the 14 ema and the 72 ema is very close to it. Since the indicators give a bearish crossover chances are high that these ema levels will break. As you can see in the past these breaks mostly lead to a further downfall giving it a very high probability that price will hit...
GOLD is showing some signals of an end of the bearish retracement, so i will wait for a complete cross of the Stochastic and the first green candle on the Heiken Ashi chart.
As Always Trade with your own mind but feel free to take idea ;)
Gold hold strongly its support 1236 and trading above strong support seems at 1230 if hold above that we can see toward 1270-1280
Buy gold in range of 1247-1235 with sl 1228 TP 1280
Three drive pattern ...
DMI Cross ...
ADX shows momentum ...
We take LONG position and book first profit @ 1270, second @ 1290, third @ 1310
Let's Watch !!
Very nice setup for gold on the daily time frame. It has broken down from the range and the indicators are also very bearish.
This makes gold a very nice sell for a target of at least 1215 and maybe lower.
Price probably falls to the next support level or the one under it before a wave back up. For the clarity I have also added the other support levels.
TP:...
